Variance Formula
There are two formulas for Variance, that are:
- Population Variance
- Sample Variance
Formula for Population Variance
The mathematical formula to find the variance of the given data is,
Where,
- σ2 is the Variance of the Population,
- N is the Number of Observation in the Population,
- Xi is the ith observation in the Population, and
- μ is the mean of the Population.
This formula is also called the Population variance formula as it is used for finding the variation in the population data.
Formula for Sample Variance
Also, the other formula for finding the variance is the sample variance formula is discussed in the image
Variance and Standard Deviation
Variance and Standard Deviation are the important measures used in Mathematics and Statics to find the meaning from a large set of data. The different formulas for Variance and Standard Deviation are highly used in mathematics to determine the trends of various values in mathematics. Variance is the measure of how the data points vary according to the mean while standard deviation is the measure of the central tendency of the distribution of the data.
The major difference between variance and standard deviation is in their units of measurement. Standard deviation is measured in a unit similar to the units of the mean of data, whereas the variance is measured in squared units.
Here in this article, we will learn about variance and standard deviation including their definitions, formulas, and their differences along with suitable examples in detail.
Table of Content
- Variance
- Variance Formula
- Standard Deviation
- Standard Deviation Formula
- Relation between Standard Deviation and Variance
- Differences Between Standard Deviation and Variance